Why Accenture Stock Flopped on Friday
(NYSE: ACN) is one company that's surely glad the trading week is over. The consultancy's share price continued its fall on Friday, losing another 2.9% in value. This was a notably worse performance than the S 500 index's 0.8% slide. Several analysts cut their price targets on the stock, with one going so far as to downgrade his recommendation.
The downgrading party was TD Cowen's Bryan Bergin, who now feels Accenture is worthy of a market perform (hold, in other words) instead of his previous outperform (buy). With the downgrade came a price target cut; this is now $300 per share, down from Bergin's former $325.
In a new note on the stock, the prognosticator wrote that the latest fundamentals from the company indicate a "further deterioration in demand signals that yields incremental uncertainty and estimate risk."
Source Fool.com
Accenture plc A Stock
The stock is an absolute favorite of our community with 55 Buy predictions and no Sell predictions.
As a result the target price of 244 € shows a very positive potential of 60.58% compared to the current price of 151.95 € for Accenture plc A.
